Banking Failures – 81 And Counting 2009 has now seen a total of 56 more failed banks than occurred for all of 2008. The latest banking closures by the FDIC bring total banking failures for 2009 to 81. The latest four failed banks on August 21, 2009 had total assets of $13.9 billion and total […]
4 Failed Banks For August 21, 2009 Include Second Largest Banking Failure In 2009
August 21, 2009 By Leave a Comment
5 Failed Banks For August 14, 2009 Include 6th Biggest Banking Failure In U.S. Histroy
August 14, 2009 By Leave a Comment
Banking Failures – 77 And Counting 2009 has now seen a total of 52 more failed banks than occurred for all of 2008. The latest banking closures by the FDIC bring total banking failures for 2009 to 77. The latest five failed banks on August 14, 2009 had total assets of $26.8 billion and total […]
Colonial BancGroup – Is There Any Reason For Not Closing This Failed Bank?
August 14, 2009 By Leave a Comment
What Are The Regulators Waiting For? Recent events at Colonial BancGroup Inc present a picture of a bank beyond any hope of financial recovery. Colonial has been under FDIC and Alabama Banking Department oversight since June when it was obvious that Colonial could not survive without additional capital. A possible merger or sale has been […]
3 Failed Banks For August 7, 2009
August 8, 2009 By 1 Comment
Banking Failures – 72 and Counting 2009 has now seen a total of 47 more failed banks than occurred for all of 2008. The latest banking closures by the FDIC bring total banking failures for 2009 to 72. The latest three failed banks on August 7, 2009 had total assets of $769 million and total […]
5 Failed Banks For July 31, 2009
July 31, 2009 By Leave a Comment
Banking Failures – 69 and Counting 2009 has now seen a total of 44 more failed banks than occurred for all of 2008. The latest banking closures by the FDIC bring total banking failures for 2009 to 69. The latest five failed banks on July 31, 2009 had total assets of $2.7 billion and total […]
7 Failed Banks For July 24, 2009 – FDIC Losses Mount
July 24, 2009 By Leave a Comment
Banking Failures – 64 And Counting 2009 has now seen a total of 39 more failed banks than occurred for all of 2008. The latest banking closures by the FDIC bring total banking failures for 2009 to 64. The six banks closed in Georgia this week were all bank subsidiaries of Security Bank Corp, Macon, […]
Problem Bank Guaranty Financial Seen As Next Failed Bank – Maybe
July 24, 2009 By 1 Comment
FDIC Should Close Guaranty Financial But Will It? There were numerous news reports today that Guaranty Financial (GFG) will be the next large bank to collapse into the arms of the FDIC. Guaranty Financial’s management has admitted that they have run out of options and cannot comply with an April cease and desist order from […]
FDIC’s Bair Says Problem Banks Not Viable Should Fail
July 23, 2009 By Leave a Comment
Failure Should Not Be Rewarded FDIC Chairman Sheila Bair set forth guidelines today for establishing a Financial Company Resolution Fund (FCRF) to deal with the failure of systemically significant institutions. Regulations alone are insufficient to control risk in a complex and dynamic financial system. Events of the past two years have shown, despite extensive regulatory […]
FDIC Loan Guarantees Under TLGP Level Off – GE Exits Program
July 22, 2009 By Leave a Comment
FDIC Debt Guarantees Decline Slightly The FDIC Temporary Loan Guarantee Program (TLGP) was instituted late last year. The program’s stated purpose and goals, according to the FDIC, is as follows: The FDIC has created this program to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior unsecured debt of banks, […]